Shares of Nio Inc – (NYSE:NIO – Get Free Report) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.90.
A number of equities analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of NIO from $10.40 to $8.50 and set a “buy” rating on the stock in a report on Thursday, June 6th. JPMorgan Chase & Co. raised NIO from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $4.80 to $5.40 in a research report on Wednesday, May 15th. Finally, Bank of America upped their price target on shares of NIO from $5.90 to $6.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th.
View Our Latest Analysis on NIO
NIO Stock Up 2.8 %
NIO (NYSE:NIO – Get Free Report) last announced its earnings results on Thursday, June 6th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.05). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.48 billion. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. Equities research analysts forecast that NIO will post -1.43 earnings per share for the current year.
Hedge Funds Weigh In On NIO
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its holdings in shares of NIO by 238.6% during the 4th quarter. Hsbc Holdings PLC now owns 7,062,460 shares of the company’s stock worth $64,070,000 after acquiring an additional 4,976,403 shares in the last quarter. Point72 Asset Management L.P. lifted its position in NIO by 164.3% during the second quarter. Point72 Asset Management L.P. now owns 6,464,246 shares of the company’s stock valued at $26,891,000 after purchasing an additional 4,018,659 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of NIO in the 4th quarter worth $12,361,000. Swedbank AB bought a new stake in shares of NIO in the 1st quarter worth about $5,343,000. Finally, Norges Bank bought a new stake in shares of NIO in the 4th quarter worth about $9,652,000. 48.55% of the stock is owned by institutional investors.
NIO Company Profile
NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.
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